After unravelling its big plans in the electric vehicle (EV) segment last year, India’s largest two-wheeler manufacturer Hero MotoCorp will be rolling out its new electric scooter in the Indian market this month. Its manufacturing site in Chittoor, Andhra Pradesh, will produce the revolutionary zero-emission vehicle.
Hero MotoCorp’s electric scooter is expected to compete with electric scooters from Ather, Ola, TVS, Bajaj, Okinawa and Bounce.
According to an industry analysis report by JMK Research & Analytics released last December, 24,725 high speed electric two-wheelers were sold in the country, a 10% year-over-year increase, and a 444% jump in registrations.
Among all competitors, Hero MotoCorp’s top rival Hero Electric maintained its sales from January 2021 but Okinawa’s constant growth surpassed the market giant last December.
So, it is quite clear that Hero MotoCorp will have to compete with several top competitors in this segment and it should be ready for challenges from the newbies also.
When announcing company’s ambitions, Hero MotoCorp’s Chief Financial Officer Niranjan Gupta said the company eventually aspires to serve consumers in the full price range and will launch two-wheelers in premium, mid- and even budget ranges.
In August last year, Hero MotoCorp unveiled the prototype of its first-ever electric scooter. Though the design didn’t look that appealing compared to electric scooters of other startups, Hero MotoCorp is planning to introduce swappable batteries, according to the company.
It has already formed a joint venture with Gogoro of Taiwan to assist in establishing battery swap stations throughout the country.
Every day, Gogoro conducts around 200,000 exchanges in Taiwan, where it operates over 2,000 swap stations.
But Hero MotoCorp is not the only one that aims to use a swappable battery for its EV. As one of its top competitors, Bengaluru-based mobility solution company Bounce launched its first e-scooter Infinity E1, with a swappable battery option, last year.
However, swappable batteries may appear to be the most environmentally friendly way to keep e-scooters running, but according to some analysis, it is also associated with some risks.
According to reports, currently available swappable e-scooter batteries have yet to demonstrate that they are a safe and environmentally friendly option.
It was also pointed out that these alternatives pose substantial safety and sustainability concerns that must be addressed. Such issues include lack of standardisation, the possibility of getting a more used up unit, which could impact driving range, short life of a battery as most users would opt for a new battery and more batteries are in circulation to run the same number of EVs.
Additionally, the weight of the battery would not make the task of swapping any easier for the users.
It needs to be understood that the battery swapping and charging technologies have a long way to go before they can compete with ICE (Inter Combustion Engines) in terms of an ecosystem. The ability to charge and switch batteries will be the greatest option for buyers. This will greatly expand their options.
However, in the case of Hero MotoCorp, it has made significant investments in Ather Energy and intends to do so in the future. The company wants to work with a variety of stakeholders in the industry to create an ecosystem that will assist accelerate the adoption of electric vehicles in India.
Additionally, the company recently announced that it will work with Bharat Petroleum Corporation Ltd to build charging stations for e-scooters across the country. With this announcement, Hero MotoCorp became the first automotive Original Equipment Manufacturer (OEM) to join hands with the leading PSU to set up a charging infrastructure.
Since there is still a concern among the EV buyers regarding the lack of charging facilities in regions, Hero MotoCorp’s partnership with BPCL will help create an ecosystem and accelerate the adoption of EVs across the country.
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